Save with 0% p.a. interest on balance transfers for 30 months and a $0 first year annual fee when you apply online by 28 February 2018.
Transfer your existing debt to a new Westpac Low Rate credit card and you could enjoy a promotional rate of 0% p.a. interest for up to 30 months on balance transfers with a one-time 2% balance transfer fee. At the end of the promotional period, any of the remaining balance will accrue interest at the variable cash advance rate.
To take advantage of this offer, you’ll need to be a new customer, apply online and request the balance transfer when you apply during the promotional period.
|Product Name||Westpac Low Rate - Online Offer|
|Balance transfer rate (p.a.)||0% p.a. for 30 months with 2% balance transfer fee|
|Balance Transfer Revert Rate|
The interest rate after the balance transfer ends.
|Cash Advance Rate (21.49% p.a.)|
|Balance Transfer Limit||80% of available credit limit|
|Purchase rate (p.a.)||13.49% p.a.|
|Offer end date||28 February 2018|
|Annual fee||$0 p.a. annual fee for the first year ($59 p.a. thereafter)|
|Interest Free Period|
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
|Up to 55 days on purchases|
|Cash advance rate (p.a.)||21.49% p.a.|
|Min credit limit|
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
|Max credit limit|
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
|Foreign Currency Conversion Fee (VISA)|
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
|3% of transaction value|
|Complimentary Travel Insurance||No|
|Minimum Age||18 years of age|
|Available To Temporary Residents||Yes - Conditions apply|
|Credit Rating Requirement||Good|
|Annual fee||$0 p.a. annual fee for the first year ($59 p.a. thereafter)|
|Minimum Monthly Repayment||2% or $10, whichever is greater|
|Late Payment Fee||$15|
|Cash Advance Fee||2% of the transaction amount or $2.50|
|Overseas Cash Advance Fee||2%|
|Overseas ATM Withdrawal Fee||$0|
|Foreign Currency Conversion Fee|
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You'll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
|Gambling Transactions Allowed||Yes|
|Additional Cardholder Fee||$0|
|Number of Additional Cardholders||1|
- A low purchase interest rate of 13.49% p.a.
- $0 annual fee in the first year ($59 thereafter)
- Balance transfer promotion of 0% p.a. for 30 months
- This card has no rewards program.
- A one-time 2% balance transfer fee applies.
Review of the Westpac Low Rate credit card
The Westpac Low Rate credit card is designed to offer affordable access to credit. As well as competitive rates on purchases and balance transfers, after the first year's $0 annual fee, you can also save on card costs with a $59 p.a. annual fee that is competitive for a low rate card. If you don’t use this card for a balance transfer, you can also enjoy up to 55 days interest free on purchases when you pay your balance in full by the statement due date.
Benefits and features of the Westpac Low Rate credit card
Here are the key highlights of the Westpac Low Rate credit card:
- 0% p.a. on balance transfers for 30 months. Apply online as a new customer by 28 February 2018 and request a balance transfer at the time of your application to enjoy 0% p.a. interest on your debt for the first 30 months. A one-time 2% balance transfer fee applies. At the end of the promotional period, the variable cash advance rate applies to any remaining debt from the transfer.
- $0 first year annual fee. When you apply by 28 February 2018, the first year's annual fee will be waived, saving you $59.
- Low purchase rate. This card has a competitive variable purchase rate of 13.49% p.a.
- Additional cardholders. Request an additional cardholder at no extra cost.
- Interest-free period. If you repay your account in full by the due date on each statement, you can take advantage of up to 55 days interest free on eligible purchases in the following statement period.
- Contactless technology. Use this card to tap-and-go for payments of under $100. You can also link your Westpac credit card with Samsung Pay or Google Pay or use the Westpac mobile banking app to make contactless payments with a compatible Samsung smartphone.
Rates and fees of the Westpac Low Rate credit card
Weigh up these costs to decide if the Westpac Low Rate credit card is right for you:
- Annual fee. The Westpac Low Rate credit card has a standard annual fee of $59.
- Cash advance rate and fee. If you use your card to make a cash advance, such as an ATM withdrawal, you'll collect an interest rate of 21.49% p.a. and will be charged a fee of 2% of the transaction amount or $2.50.
- Currency conversion rate. If you use your card to make a foreign transaction overseas or online, you'll be charged a fee of 3% of the transaction value.
- Late payment fee. If you miss a payment, you will have to pay a fee of $15.
How to apply for the Westpac Low Rate credit card
If you want to get 0% p.a. on balance transfers for up to 30 months, you need to apply for the Westpac Low Rate credit card online. This only takes a few minutes and you can speed up the process by making sure you meet the following requirements and have all the necessary information on hand.
- How old are you? You must be at least 18 years old to apply.
- How much do you earn? You must have a minimum income of $15,000 p.a.
- Are you an Australian citizen? You must be an Australian permanent resident or citizen and have a current Australian residential address. If you are a temporary resident, you may still apply through migrant banking.
Information and documents you’ll need
As part of the application process, you’ll need to provide the following details and documents:
- Personal details. This includes your full name, date of birth, residential address, email address and contact number.
- Proof of identity. You'll also need to provide some form of identification such as your driver's licence or passport.
- Employment details. You'll need to provide details of your employment including your annual income and your employer's details.
- Financial details. Westpac will also require your personal and financial details to assess your credit rating and source of income. If you receive government support and payments, you'll need to provide your Centrelink Pension Card details.
- Balance transfer details. You’ll need to provide the details of the debt that you wish to move to the new Westpac Low Rate credit card. This includes the account name and number and the amount of debt that you want to transfer. Note that you can request to transfer a balance or balances from up to three non-Westpac, Australian-issued credit, charge or store cards.
The Westpac Low Rate credit card 0% p.a. for 30 months balance transfer offer is highly competitive, allowing you to save on interest charges so that you can pay down your debt faster. This card also has competitive ongoing rates that are designed to ease the burden that comes with credit card repayments. As it's not the only low rate card on the market, compare credit cards to ensure that you find the right one for your needs.Back to top